Read our FP Markets review to see if this broker is a scam or legit. Just to clear doubts, this is a fpmarkets.com review.
FP Markets is a broker that offers forex trading. The Australian Securities and Investments Commission (ASIC), which is the top-tier regulator, has approved FP Markets as a safe and reliable company. Iress provides over 8,00 tradeable symbols and is generally considered a much more expensive platform. The Iress range is made up mostly of share trading platforms. This broker review shows FP Markets offers a flexible MetaTrader offering for CFD and forex traders; however, they do not offer any research or educational content.
Are FP Markets safe?
If you are looking for a broker like FP Markets, you will want to pay attention to their administrative body and regulatory status. Without regulatory oversight, traders conduct their trades at their discretion. As a result, you risk losing money if you invest it. Its headquarters are located in Australia.
There is regulation at FP Markets. The Australian Securities and Investments Commission regulates and supervises FP Markets. Regulated brokers are not going to manipulate the market price. To request a withdrawal from FP Markets, you will need to send an email. FP Markets’ connection to the regulatory system could be terminated if they violate any regulatory rules.
Account Types
A Standard Account is a commission-free account, and a Raw Account is a commission-based account. As a result, raw Accounts offer lower trading costs while requiring a lower minimum deposit of $100 and up to 1:500 leverage for non-EU traders. Every other trading condition remains the same.
Trading Platforms
FP Markets’ trading platforms include MT4/MT5 and Iress, restricted by geography and available to all clients. MT4/MT5 is available through a desktop program, web-based trading, and mobile applications. With its Trading Tools package, FP Markets includes twelve plug-ins. The platform gives FP Markets traders a competitive edge. Furthermore, FP Markets offers a retail account management module, MAM/PAMM. It also offers copy trading functionality. However, since MT5 does not offer backward compatibility, many consider it a failed successor to MT4.
Bonuses and Promotions
There are no bonuses or special promotions associated with FP Markets at the time of this review.
Opening an Account
The process of opening an account online with FP Markets is straightforward, but it collects more information than some of its rivals. The first step can be completed by logging into an account using Google or Facebook. The application offers traders a financial back-office to manage all their trading accounts.
There is still account verification required, but it is a simple process. Most traders will submit their identification and proof of residency to comply with AML/KYC requirements. An average deposit at FP Markets is $100, which is the average.
Deposits and Withdrawals
Additionally, there are three alternative funding options available through FP Markets. There are several ways to pay, including wire transfers, credit cards, online payment processing services, and cryptocurrencies. FP Markets provides clients with a transparent list of all payment processors in their back office. However, their different payment processors are available depending on the country of residence, so not every trader will have access to them.
FP Markets gets a top ranking for its quick and hassle-free withdrawal process in this category. It takes just a few seconds to withdraw money from the back office. FP Markets does not charge for internal withdrawals, but third parties may charge based on your selected method. The processing time also varies based on the method chosen, and FP Markets notes that internal processing will usually take one business day. It is required that the trading account name and the payment processor name be identical under AML regulations.
Customer Support
FP Markets consistently delivers excellent customer service. They offer multilingual customer support in twelve languages, 24/7. Customers may contact us by email, live chat, phone, or by opting for a callback. Most traders who need additional assistance may do so only when they are in an emergency.
Bottom Line
FP Markets is a great option for pure Forex traders seeking to trade commission-free on upgraded MT4 platforms as a reputable broker. Moreover, its options and procedures for withdrawal remain excellent.
